It is becoming increasingly common for lenders to look for ways to ensure payment when advancing funds. This is commonly done by way of personal guarantee. What is a personal guarantee? A personal guarantee is an individual's legal promise to repay credit issued to a business for which they serve as an executive or partner. Providing a perso...
Most legal systems around the world have a limit whereby the Pursuer must raise a claim; this is widely known as time bar. Alternatively, in Scotland, it can be known as prescription, and in England, it is known as limitation. This is a key factor to be aware of when someone is considering raising a court action. The important principal is that a c...
When friendships become commercially entangled and contracts are breached, rest assured, not all hope is lost! Our recent case highlights the complexities that can arise when personal relationships intersect with business interests. Case Overview: Friendship to Business Partnership We were recently instructed in a case whereby a friendship d...
